Consolidating school loans good idea
Direct consolidation loans are now the only type of federal student consolidation loan.
Under the Direct Loan Consolidation Program, you can consolidate Subsidized and Unsubsidized Stafford Loans, Supplemental Loans for Students (SLSs), Federally Insured Student Loans (FISLs), PLUS Loans, Direct Loans, Perkins Loans, Health Education Assistance Loans (HEALs), and just about any other type of federal student loan.
Other points Marshall touches on in support of Cuban’s loan cap are ...
However, the topic of student loan consolidation is top heavy with proponents; there are equally good reasons why you shouldn’t consolidate your student loans.Loans that are not eligible for consolidation include state or private loans that are not federally guaranteed.Although all of these different loans may be consolidated, you must have at least one outstanding FFEL or Direct Loan to obtain a Direct Consolidation Loan.That extra money should be used to help pay off the other loans, but if for some reason your budget is hit with an emergency, you’ve lowered your debt commitments.Now, let’s say that the and payments have 10-year terms and the 5 a 20-year term.